Do you need a CPA to do auditing?

[charlie]

Hi everyone,
I’m trying to understand whether a CPA is required for audits, especially for businesses that need financial statements reviewed or certified.

 

[jainnorton]

No, a CPA isn’t always required for auditing, but only CPAs can perform official audits for regulatory compliance (e.g., SEC filings). Non-CPAs can conduct internal or informal reviews.

 

[Gsusangrey]

While non-CPAs can perform internal audits or assist with audit work, only a licensed CPA (or CPA firm) can issue an opinion on financial statements for external audits, especially for publicly traded companies.

 

[tonny]

Only a licensed CPA (or CPA firm) is authorized to provide an opinion on financial statements for external audits, particularly for publicly traded corporations, while non-CPAs are permitted to conduct internal audits and help with audit work.

 

[Samuel]

A set of security guidelines known as PCI compliance, or Payment Card Industry Data Security Standard (PCI DSS) compliance, is intended to guarantee that any business that receives, handles, stores, or transmits credit card data does so in a secure setting. It's a set of guidelines set by big credit card companies to protect cardholder data; it's not a law. A company's reputation may suffer and heavy fines may follow noncompliance.